Should I keep getting more CC's

Anonymous · ‎08-15-2015

Let me start by saying for the past couple years I have been handling my student loan debt along with me new credit cards excellently and responsibly. About 5 years ago I had two charge offs; 1 from CapOne and one from Chase, I have paid them both off as of almost 2 years ago. I also have 1 stupid collection from MediaCom since I moved due to military orders. I never recieved a collection notice but am currently fighting that now. Anyway, CapOne started me off slow and has given me an upgrade to a quicksilver from the platinum. Along with that, my bank(USAA) has given me a Amex with amazing rewards on base, grocery stores and gas. I also has a Military star card that I do not use at all. About 3 months ago I figured I'd try to get back into Chase's good graces but failed epically. I think they still have a bone to pick even though the charge offs fall of in under 2 years now.

Getting to my question; Is it ok to get more credit cards? I would like a travel rewards card and being active duty, the annual fee is waived. I have a good relationship with CapOne so I was thinking the Venture. I see there are some other good Amex Cards out there as well. I am afraid to venture out to Citi or Barclay for fair of being rejected.

Any General or specific advice would be greatly appreciated. I will provide more information if it will help. Thank you again!

Anonymous · ‎08-15-2015

Welcome to MyFico. First off, you should be joining NFCU instead of CAP 1 since you are in the military. Also, is there any card you have in mind specifically?

Anonymous · ‎08-15-2015

@Anonymous wrote:
Welcome to MyFico. First off, you should be joining NFCU instead of CAP 1 since you are in the military. Also, is there any card you have in mind specifically?

Thank you I will check out NFCU! I am looking for travel rewards so I was thinking about the CapOne Venture. Also, I was denied for the Chase Southwest about 3 months ago.

Anonymous · ‎08-15-2015

@Anonymous wrote:
@Anonymous wrote:
Welcome to MyFico. First off, you should be joining NFCU instead of CAP 1 since you are in the military. Also, is there any card you have in mind specifically?
Thank you I will check out NFCU! I am looking for travel rewards so I was thinking about the CapOne Venture. Also, I was denied for the Chase Southwest about 3 months ago.

NFCU is a MUST and will grow with you. They are also very generous with credit limits giving massive ones. What are your FICO scores for each of the bureaus?

Anonymous · ‎08-15-2015

@Anonymous wrote:
@Anonymous wrote:
@Anonymous wrote:
Welcome to MyFico. First off, you should be joining NFCU instead of CAP 1 since you are in the military. Also, is there any card you have in mind specifically?
Thank you I will check out NFCU! I am looking for travel rewards so I was thinking about the CapOne Venture. Also, I was denied for the Chase Southwest about 3 months ago.
NFCU is a MUST and will grow with you. They are also very generous with credit limits giving massive ones. What are your FICO scores for each of the bureaus?

I have USAA and I love them! My fico score is between 660-670..I think. But my CreditKarma score is reporting as 730-740. My USAA credit monitoring uses the latest Vanatage scoring and it shows about the same as CK. CapOne has preapproved me for Venture which is another reason I was leaning towards them. I would like to give my business to some other companies as well. It just doesn't seem like Chase will take me anytime soon.

Anonymous · ‎08-15-2015

@Anonymous wrote:
@Anonymous wrote:
@Anonymous wrote:
@Anonymous wrote:
Welcome to MyFico. First off, you should be joining NFCU instead of CAP 1 since you are in the military. Also, is there any card you have in mind specifically?
Thank you I will check out NFCU! I am looking for travel rewards so I was thinking about the CapOne Venture. Also, I was denied for the Chase Southwest about 3 months ago.
NFCU is a MUST and will grow with you. They are also very generous with credit limits giving massive ones. What are your FICO scores for each of the bureaus?
I have USAA and I love them! My fico score is between 660-670..I think. But my CreditKarma score is reporting as 730-740. My USAA credit monitoring uses the latest Vanatage scoring and it shows about the same as CK. CapOne has preapproved me for Venture which is another reason I was leaning towards them. I would like to give my business to some other companies as well. It just doesn't seem like Chase will take me anytime soon.

I am not military but most people will give their first borns to get a piece of NFCU. Heck, if I was close to a military base I may be tempted to lurk around to see if I can get an instant family just to get in (joking).

Anyway, if you are pre-approved for the Venture do it right now and report with results.

Anonymous · ‎08-15-2015

Thanks for your help I really do appreciate it! Is there anyone else that has reccomendations about getting more credit cards? Thank you!

Anonymous · ‎08-15-2015

By all means look into NFCU. You might be very surprised how you do there and the limits you might receive. What are you current scores especially EQ? Any baddies on your report? Just as a point of reference at the end of June I had no open revolving lines of credit at all. Just 4 out of 6 years in on my auto loan thru GM FInancial. My EQ score was 655 (though NFCU uses the FICO 04 mortgage score which for me was right at 700). I scored a Cash Rewards card at 14K, a 10K LOC and a 2K MC if that gives you an idea how generous they can be. I've also got a mortgage pre approval in hand now as well.

Anonymous · ‎08-15-2015

If you have a Venture pre approval go for it first. Then check out NFCU. You might end up with two nice new higher limit CL's. I'd be willing to bet that you'd get a 14-15K SL with an NCFU card as well.

Anonymous · ‎08-15-2015

@Anonymous wrote:
If you have a Venture pre approval go for it first. Then check out NFCU. You might end up with two nice new higher limit CL's. I'd be willing to bet that you'd get a 14-15K SL with an NCFU card as well.

I wrote a little at the beginning about my credit history but its much better now. I will definitely look in NFUC but is it ok to keep getting new credit cards? Is that red flag for certain Banks/Companies?